More than 2 on the stoxx 600 great s p futures point to another day of decline in the u. S. On track for six days of declines and heading for lowest close since october and global stocks for the 10 year yield hitting a fresh record low. Yields are dropping across the u. S. Curve. The two year yield sitting around 112. To the euro missed the risk off memo . Three out of the past four days. 10947. It could be down to the broad dollar weakness. The yen has been big today along with gold. Saying we could get 1800 on gold. Wti extending its slide beyond a 13 month low. Lets get the bloomberg first word news. We begin with italian Opposition Leader Matteo Salvini who accuses the government of underestimating the threat of coronavirus. He is urging them to earmark at least 10 billion euros for emergency measures. I think it will be the composed of factions the dont like each other. Its already the weakest in terms of growth. After the virus, which will evidently slide us into a recession, a g
Than expected. That means we have a bit of a risk off move. We had moves from the central bank of new zealand, and overall, new zealand stocks are gaining. There is quite a lot of movement when it comes to commodities and we will have a full roundup of centralbank action and its impact on stocks and commodities. Coming up, we speak to the commerzbank chief Financial Officer. Dont miss that interview live later on bloomberg surveillance. Lets get straight to bloomberg first word news in new york city. Chinas currency policy is staying at the forefront of the trade war. Referenceet todays rate at marginally stronger than seven a dollar. Avowing to keep the Exchange Rate is vowing to keep the Exchange Rate study. Westminster and brussels blame the other for the diplomatic breakdown. Michael gove is in charge of planning for a no deal and says the eu is not bracing for a new agreement. The Prime Minister has made it clear he will not sign a deal that includes the irish backstop from a red
Also, later we will speak to the iea about the u. S. Shale surge. Two great guests coming up in a couple seconds. European stocks are shrugging off a little bit of the declines we saw in asia. Better than expected german data, boosting sentiment there. Some of the most powerful central bankers gather in frankfurt that is definitely what we are looking up for. The Italian Economy sure, they did not qualify during the world cup, but the economy expanded better than thought. The 10 year briefly breaching 3 for the first time in 10 years. Lets get straight to the bloomberg first word news. Chief house tax writer says he has enough republican votes to pass the tax legislation this week. Kevin brady says he does not anticipate any major changes. Meanwhile, the white house says President Trump will speak about taxes thursday morning. And the house ways and Means Committee chair kevin brady joins us at six a copy of u. K. Time. Roy moore is facing a fresh allegation of sexual assault. The form
Norwegian wealth fund says it has returned from 2. 6 in the second quarter. They must have had a big position. If you are looking at the way that the Norwegian Wealth Fund is structured, they have a you look at when stocks, and then they have bonds. The Real Estate Holding returns them 1. 2 . They face many challenges. That is something we need to keep an eye on. Lets get on to the rescue of your data check in. This is what i am seeing overall. The markets are on a little bit of a rebound, especially for stocks. It is august 22. European stocks are joining the rally across most of asian equities, following three days of losses. Trading volumes, once again depressed. Even withreating, ray dalio saying he has reduced risk. Reporter the command review u. S. Forces are confident in the ability to destroy north korean missiles. Pyongyang threatened the United States with merciless revenge for carrying out annual military drills with south korea. Steve mnuchin says President Trump could keep
Options. In london, we have a packed show for you. And through the week. A lot of focus on brexit. First things first. Checking in on the markets. A selloff. The selloff of the riskier assets has eased some much. Best has eased has eased somewhat. The one i want to show you is rand. The president of south africa plans to fire his finance minister. We will keep an eye on the emerging markets and we will talk commodities as well. Rand the South African has slumped this morning after the president was set to tell the Senior Leaders of the communist party that he plans to remove the finance minister. That was according to three people who were at the meeting. A spokesman said the people were misinformed. The u. K. Brexit secretary david davis says the u. K. Will not cough up the sums of money that eu officials are saying it will need to to leave the block. Jeanclaude juncker says the to forecast set around 50 million pounds. The bill is set to be an early source of disagreement. Scottish f